Monzo was founded in 2015 by Tom Blomfield, Paul Rippon, Gary Dolman, Jonas Juckestein, and Jason Bates. The company has not officially endorsed a plan to participate in an IPO.
Headquartered in the UK, Monzo is a bank exclusively accessible on mobile devices. Per the company’s website, over 3 million people have registered for a Monzo bank account. The company has raised just over $500 million in Venture Capital funding from investors including Reference Capital, Y Combinator, Accel, General Catalyst, Goodwater Capital, Stripe, Thrive Capital, and Passion Capital. It has been widely reported that Monzo last raised $90 million in June 2020 at a post-money valuation of $1.6 billion.